One of our favorite tech investments is Ambarella Inc. (Nasdaq: AMBA) stock, which has climbed 46.4% in 2015.
We recommended thistech stock well before 2015. Money Morning's Defense and Tech Specialist Michael Robinson told readers about this profit play in August 2013. Since then,AMBA stock has soared 305%.
Fortunately, AMBAstock's run is not over. In fact, we just received another "Buy" signal for this innovative tech stock…
AMBA Stock's Latest Buy Signal
AMBA is a small-cap stock with a market cap of just $2.3 billion. In the last four earnings reports, AMBA has beaten earnings estimates by an average of 29%. In the upcoming quarter, analysts are expecting earnings-per-share (EPS) growth of 132% and revenue growth of 62.5%.
Operating margin is healthy too, at 25.7%.
But the best number – and recent "Buy" signal – came from Canaccord Genuity. At the end of March the firm maintained its "Buy" rating on the stock and raised their AMBA stock price target to $81.
AMBA closed yesterday at $72.01. Reaching $81 would be a 12.5% gain from yesterday's closing price.
In November, it announced a partnership that centered on Google's "Helpouts" service app. "Helpouts" will let teachers, counselors, doctors, home repair specialists, personal trainers, and others to offer their paid or free expertise via real-time online video. Google is tapping Ambarella to provide the chips.
"For a small company like Ambarella, hooking up with a heavyweight like Google is incredibly bullish," Robinson said at the time.
But it's not just the partnerships with Google and GoPro that will push AMBA stock higher in 2015 …
